Tega Industries IPO - Listing Day Performance
Tega Industries had a strong listing on 13th December and listed at a premium of 67.77%, but closed the day well below the listing price. The stock did show a strong opening during the day but lost value from higher levels and the weak markets only accentuated it.
With 219.04 times subscription and consistent premium in the grey market, Tega Industries was expected to list and trade at a premium. Here is the Tega Industries listing story on 13-Dec.
The IPO price was fixed at the upper end of the band at Rs.453 which was obvious considering that the issue was subscribed 219.04 times overall with robust contribution from retail, HNI and the QIB segments.
The price band for the Tega IPO was Rs.443 to Rs.453. On 13th Dec, the stock of Tega Industries listed on the NSE at a price of Rs.760, a premium of 67.77% above the issue price of Rs.453. On the BSE also, the stock listed at Rs.753 a premium of 66.23% over the issue price.
On the NSE, Tega Industries closed on 13-Dec at a price of Rs.718, a first day closing premium of 58.50% on the issue price of Rs.453. However, the closing price was 5.53% below the listing price.
On the BSE, the stock closed at Rs.725.50, a first day closing premium of 60.15% on the issue price, but 3.65% below the listing price. On both the exchanges, the stock listed at a premium to the issue price, but failed to hold on to the premiums, although it did close the day with hefty premium to the IPO price.
On Day-1 of listing, Tega Industries touched a high of Rs.767.70 on the NSE and a low of Rs.712.25. The premium compressed through the day. On Day-1 of listing, the Tega Industries stock traded a total of 166.46 lakh shares on NSE amounting to value of Rs.1,234.36 crore. On 13-Dec, Tega Industries was the fourth most active share on NSE by traded value.
On the BSE, Tega Industries touched a high of Rs.767.10 and a low of Rs.711.50. On BSE, the stock traded a total of 10.84 lakh shares amounting to value of Rs.80.39 crore. It was the fourth most active share on the BSE also in terms of trading value.
At the close of Day-1 of listing, Tega Industries had a market capitalization of Rs.4809.57 crore with free-float market cap of Rs.721.44 crore.
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